Kraft Heinz may sell its Breakstone’s brand
Kraft Heinz is weighing its options after a detrimental 2018 fourth quarter, in which the company lost $12.6 billion loss, by looking into selling it Breakstone’s sour cream and cottage cheese business.
Kraft Heinz has hired Royal Bank of Canada to review options for its Breakstone’s business, which could include a sale, people familiar with the situation told CNBC. The move is understood to be part of a broader review of the company’s dairy business, which also includes its natural cheese business.
Breakstone’s, which has roughly $400 million in revenue and $50 million in earnings before interest, taxes, depreciation and amortization, could fetch a valuation of roughly $400 million, according to CNBC. It could appeal to dairy companies like Dean Foods, Saputo or national milk cooperative, Dairy Farmers of America.
It comes as Kraft Heinz also weighs selling its Maxwell House coffee business.
To read the CNBC article, click here.